And this is often because SMBs are badly prepared on the security front, with a much lesser security budget than larger enterprises, yet still represent a juicy target in terms of the potential gains on offer. Particularly if, relatively speaking, it doesn't take much time or effort to crack their defences.

The new Government Security Breaches Survey showed that the vast majority - 74% in total - of small firms reported some form of security breach during 2015. That's a big increase compared to previous years.

Drastic change

Toni Allen, UK Head of Client Propositions at the British Standards Institute told the Guardian that: "SMEs have not historically been the target of cybercrime but in 2015 something drastically changed."

Another recent survey from Harvey Nash pointed to 36% of UK businesses being hit by at least one security incident last year, so the figure for small businesses being targeted is more than double that.

That's certainly worth bearing in mind when it comes to the next evaluation of your company's security - as is the fact that it's not just financial damage that cybercriminals can do if they pull off a successful attack against your business. Often, the damage to your reputation can be even more damning and difficult to shake off.

Sponsored Stories

Subscribe to our Newsletters

In an interview with ETCIO, Kedar Upadhye, Jt President & Global CFO, Cipla, throws light on some innovative IT projects that Cipla has implemented,as part of its digital transformation strategy, to fuel business growth.

Sudhanshu Pokhriyal, President of Textiles at Raymond, firmly believes that digital transformation is a top-down approach. Taking the lead on the initiative, he has devised an innovative digital strategy that enhances customer experience while helping retailers in their business.